Earlier this month, the Board also deferred payments as part of commitment to helping families navigate COVID-19 challenges
- Open Enrollment has been extended from April 30 until May 31
- Announcement comes after Board defers payments for current and new customers until July 2020.
- Prepaid Plan prices for 2020 Open Enrollment period start at $44 / month for a newborn – the lowest in five years.
TALLAHASSEE, Fla. – The Florida Prepaid College Board announced today that it is extending Open Enrollment by four weeks, to May 31, 2020, as part of its continuing commitment to helping families as they navigate the challenges related to COVID-19.
In addition, earlier this month the Board announced that, for the first time in its history, it would defer Prepaid Plan payment due dates for both current and new customers until July 2020 to provide a financial cushion to Florida families.
“During this challenging situation, we know that many families will need additional time to make their college savings decisions,” said Board Chairman John D. Rood. “We hope that the Open Enrollment extension and deferred payments will give families the flexibility they need.”
All Prepaid College Plans are guaranteed by the State of Florida, ensuring families can never lose their investment. A Prepaid Plan allows families to lock in future college costs for less so their child’s college tuition is ready and waiting for them. Families simply pick a Prepaid Plan to fit their budget and savings goals. There are no worries about the ups and downs of the stock market or how much tuition might go up.
Families can use the online Prepaid Plan pricing tool to determine what the various plans cost based on a child’s age, as well as explore the different payment options available. Prepaid Plan prices start at $44 / month for a newborn – the lowest in five years.
“We are in unprecedented times for our state as Florida continues to deal with the ramifications of COVID-19,” said Kevin Thompson, Florida Prepaid Executive Director. “But we also know that the future remains bright for tomorrow’s college students. Even as we all cope with the challenges of today, we encourage Florida families to take comfort in knowing that you can never lose money with a Prepaid Plan.”
If a child attends an out-of-state college or private college, Florida Prepaid will pay the same amount as it would pay at a public college or university in Florida. Every Prepaid Plan is guaranteed by the State of Florida, and a child has up to 10 years after high school graduation to use a Plan.
Over the last 30 years, Florida Prepaid has helped about 1.2 million families save for college and more than 518,000 students have attended college using a Prepaid Plan – making it the largest and longest-running program of its kind in the nation.
For more information about deferred Prepaid Plan payments, visit myfloridaprepaid.com.